| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 68th | Best |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8360 Pardee Rd, Cicero, NY, 13039, US |
| Region / Metro | Cicero |
| Year of Construction | 1987 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8360 Pardee Rd, Cicero NY Multifamily Investment
Neighborhood occupancy trends are steady and renter affordability appears manageable relative to incomes, according to WDSuite’s CRE market data, supporting durable leasing for a 64-unit asset. The property’s suburban positioning offers access to Syracuse employment while keeping operating risk balanced by a broad commuter base.
8360 Pardee Rd sits in a suburban Cicero location within the Syracuse metro, where neighborhood livability leans residential and car-oriented. Restaurants are present at a moderate level (competitive among metro peers), while cafes, groceries, parks, and pharmacies are limited in the immediate neighborhood. For investors, this generally translates to quieter surroundings and reliance on nearby corridors for daily needs rather than heavy foot-traffic retail.
Occupancy for the neighborhood is above the metro median among 247 Syracuse neighborhoods, a constructive backdrop for stabilized multifamily. At the same time, the neighborhood’s renter concentration is relatively low compared with many urban submarkets, so positioning as quality workforce housing and capturing commuters is key to sustaining demand.
Demographic indicators aggregated within a 3-mile radius show a large household base with high incomes and a recent shift toward smaller household sizes. While population eased modestly in the last five years, WDSuite’s data points to an increase in households and families over the same period, which supports a broader tenant base and can reinforce occupancy stability. Forward-looking projections indicate additional household growth over the next five years, with smaller average household size, which typically adds depth to the renter pool and supports retention.
Home values in the neighborhood are in line with regional norms, and ownership remains comparatively accessible versus high-cost coastal markets. That context can introduce competition from for-sale housing, but high median incomes and a low rent-to-income burden suggest room for measured rent advancement and stable lease performance. The asset’s 1987 vintage is newer than the neighborhood’s older housing stock, offering competitive positioning versus mid-century buildings while leaving scope for targeted modernization to meet current renter expectations.
Safety metrics are competitive among Syracuse neighborhoods (ranked favorably relative to many of the 247 metro neighborhoods) and sit above the national median, based on WDSuite’s data. Property-related offenses have trended down over the past year, improving notably compared with national peers, which is supportive of renter retention and leasing stability.
Violent-offense indicators benchmark in the top quartile nationally for safety, though recent movement shows some year-over-year variability. For underwriting, this suggests a generally stable safety profile with typical cyclical fluctuation, rather than a structural shift. As always, investors should evaluate block-level patterns over time and align on-site practices (lighting, access control) with standard risk management.
The employment base draws from regional corporate employers that help anchor commuter demand from Cicero to Syracuse. Nearby firms such as ADP Syracuse and WestRock provide steady white-collar and industrial-adjacent roles that support multifamily leasing and retention.
- ADP Syracuse — payroll & HR services (6.3 miles)
- WestRock — packaging manufacturing (9.1 miles)
This 64-unit 1987-vintage property offers stable, suburb-supported demand dynamics with incomes that outpace many U.S. neighborhoods and a low rent-to-income burden, providing room for disciplined pricing and steady occupancy. According to commercial real estate analysis from WDSuite, the surrounding neighborhood benchmarks above the metro median for occupancy, while the asset’s vintage is newer than much of the local housing stock—positioning it competitively versus older inventory with potential to unlock value through focused renovations.
Within a 3-mile radius, households have grown and are projected to continue expanding, with smaller household sizes that typically expand the renter pool and support lease-up and retention. Ownership remains relatively accessible in this market, which can temper rent growth at the margin; however, strong incomes and commuter access to Syracuse employment nodes underpin consistent renter demand.
- Neighborhood occupancy above the metro median supports durable leasing
- 1987 vintage newer than nearby stock, with value-add modernization potential
- High local incomes and low rent-to-income burden aid pricing power and retention
- 3-mile household growth and smaller household sizes expand the renter base
- Risk: Accessible ownership and limited nearby amenities may moderate rent growth